One half of the fund known as the land scrip fund, to wit: Ninety-five thousand and nine hundred dollars, shall be for the benefit of the South Carolina State University and shall be a perpetual fund, which shall forever remain undiminished, and the board of trustees is authorized to use the income thereon, to wit: Six per cent per annum, payable semiannually, from July 1, 1889 for the use and maintenance of such college.
HISTORY: 1962 Code Section 22-557; 1952 Code Section 22-557; 1942 Code Section 5805; 1932 Code Section 5805; Civ. C. '22 Section 2824; Civ. C. '12 Section 1884; Civ. C. '02 Section 1298; 1889 (20) 299; 1868 (14) 169; 1879 (17) 86; 1896 (22) 173; 1954 (48) 1722; Const. Art. 11, Section 8.